Earlier this week Facebook announced the launch of its Product Ads, a solution that helps marketers promote multiple products or their entire catalog to customers who are actually interested in them. Product Ads helps Facebook discover more relevant products for the right audience on a scale across devices.
Facebook has not just provided a new avenue for a product ad solution, but changed the rules of the game by making product discovery relevant based on user interests and activity.
Conventional ad process involved designing individual campaigns for specific products targeted to specific audiences. This process involved a lot of discrepancies because the intelligence based on which decisions are made might not be accurate or may be misinterpreted. Ads for new products or categories continued to burn a hole in your pockets as a sunk cost till the time you got it right.
However the new ad solution looks promising because this time Facebook itself will decide which user should see which product, based on analyzing trending individual user interests and activities. So as an advertiser all you have to do is upload your catalog and Facebook will show it to the people who actually might want to buy it. This is much better than you profiling your buyer, guessing their demographics and then hoping it to be right. As an advertiser Product Ads will give you not just better conversion capability, but also an enhanced ad experience due to better functionality like –
Integration with Custom Audiences
Targeting people who have visited your website / specific pages / app or targeting people based on interests, location, etc.
Integration with Multi Product Ad Format
Product Ads can be shown in a Multi Product Ad Unit which basically means your conversion probability rises 3x by showing three relevant product ads with its unique URL’s in a single ad unit.
Out of Stock Update
Product ads that have gone out of stock will automatically be stopped to avoid customer disappointment and enhance user experience
Facebook in its blog says, “With product ads, businesses can showcase more products and people on Facebook can discover more relevant products”. Early tester’s claim to have increased their CTR’s by 20% and also performed exceptionally well on mobile.
Sokrati has already achieved great milestones in Product Ads for eBay’s mammoth portfolio on the Google Shopping Campaigns platform. We can’t wait to try our hand’s on Facebook’s new Product Ad solution. With this great solution and a little Sokrati touch we are sure to create Magic on this Ad Platform.
Till the time we keep you updated, you can get in touch to know more at firstname.lastname@example.org
Image Credit: www.facebook.com